There are obvious steps leaders can take to address the crisis of trust in our major institutions, but it requires strength of character to do the right thing. Often times the right choice flies in the face of the easiest or most popular path endorsed by those who tend to benefit the most from the decision being made. It’s time for leaders of all organizations to quit focusing on self-interest, stop appeasing the desires of the most powerful, and start serving the greater good of all stakeholders.

“A Battle for Truth” and “Trust Crash in the U.S.” proclaimed last week’s 2018 Edelman Trust Barometer. Then, the usual, ridiculous hand-wringing ensued. Yet, there’s plenty of research in business strategy and ethics that points the way out of this quagmire; and it’s not the inter-personal stuff you may be familiar with. I’m talking real business practices and systems that make your organization more trustworthy and therefore, more trusted. Trust has tangible bottom-line benefits.

The need for macro-level trust interventions is urgent. Here’s what scholars Reinhardt Bachmann and Andrew Inkpen pointed out in the wake of the 2007-2008 financial crisis.

Clearly, the problem has not emerged in that trust has broken down at the micro-level, i.e. in relationships where individuals know each other face-to-face. The trust crisis is essentially due to a breakdown of macro-level trust, i.e. trust in (large) organizations. This is why we urgently need to know more…